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Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
Demand for riskiest tranches and improved loan supply could support growth in issuance
Dana Point 'no longer the end' of the year as market retains momentum
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US credit manager CIFC has hired Citi’s former global head of CLO trading as a senior portfolio manager in structured products.
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US retailer Sears announced its intention on Tuesday to swap unsecured and senior secured debt into new payment-in-kind notes that could be converted into common stock. Seeing this as a distressed debt exchange, Fitch Ratings quickly downgraded the retailer to C.
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Moody’s Investors Service said on Thursday that quality of covenants in the US leveraged loan market have dropped to their weakest ever level.
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The CLO curve has flattened as a result of the success of the refinancing market, and investors may be becoming complacent on the duration risk in longer dated bonds, said a CLO portfolio manager on Thursday.
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On Wednesday, Cineworld launched a $4bn term loan and £1.7bn rights issue to back its acquisition of Regal, the second biggest cinema operator in the US.
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Spire Partners has hired a senior credit analyst from Tikehau.